This topic contains a solution. Click here to go to the answer

Author Question: A side effect of a price floor set above the equilibrium price is: a. the new price is below ... (Read 124 times)

Bob-Dole

  • Hero Member
  • *****
  • Posts: 547
A side effect of a price floor set above the equilibrium price is:
 a. the new price is below equilibrium price.
  b. an excess supply of the good is created.
  c. an excess demand for the good is created.
  d. the supply of the good decreases.
  e. the demand for the good increases.

Question 2

A price floor is:
 a. the lowest price a producer will accept.
  b. the lowest price a consumer will pay.
  c. a minimum price set by the government above equilibrium price.
  d. a maximum price set by the government above equilibrium price
  e. usually set equal to equilibrium price.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ashley I

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

b

Answer to Question 2

c




Bob-Dole

  • Member
  • Posts: 547
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

For a complete list of videos, visit our video library